The Global Can Coatings Market size is projected to reach USD 2.65 billion by 2026, on account of change in living habits and rising demand for canned products from the food and beverage industry. Cans are used for preserving products and storing them for safe transport from manufacturing units to the end-user. The increasing popularity of packaged food and beverage products is a significant factor boosting the can coatings market size. As per this report, the market value was USD 1.97 billion in 2018 and is expected to rise at a CAGR of 3.8% between 2019 and 2026.
Expansion of Product Portfolio- Key Strategy Adopted by Players
Major can coatings manufacturers are excluding harmful chemical materials for production and including elements such as polyester and acrylic for can production. Besides this, producers are focusing on geographical expansion, strengthen their distribution channels, and product launches for exceptional food and beverage variety such as soups, baby-milk, and others to attract high can coatings market revenue on the one hand and emerge dominant in the market competition on the other.
List of Notable Market Players in Can Coatings Market;
PPG Industries, Inc.
Kansai Nerolac Paints Ltd.
CSC BRANDS, L.P.
Axalta Coating Systems
National Paints Factories Co. Ltd.
CSC BRANDS, L.P.
TOYOCHEM CO. LTD.
IPC GmbH & Co. KG
VPL Coatings GmbH & Co KG
The Sherwin-Williams Company
Browse Summary of This Research Report with TOC: https://www.fortunebusinessinsights.com/can-coatings-market-102537
Rise in Demand from Personal Care Products to Add Impetus to Market
The increasing demand from the food and beverage industry to feed the growing population is a major factor promoting the can coatings market growth. Moreover, change in consumer lifestyle, and increasing trend of mobile food products with an extended shelf life is also augmenting the market. Can coatings are utilized both on the exterior and interior surface for preserving food for a longer period, especially in cases of food and beverage products.
However, government restrictions on specific can coating technology and application methods, use of VOC emission content, solvents used, resins, and other can coating formulation in chemicals and materials that may cause health problems may cause hindrance to the overall market in the long run.